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CII almost halves gender pay gap in two years

The mean gender pay gap at the Chartered Insurance
Institute (CII) has almost halved in just two years.

The professional body had a gender pay gap of 28% in
April 2017, whereas in April 2019 the gap had shrunk to 14.77%.

During the last two years the CII has re-evaluated roles
to address the historic unfairness towards part-time workers; trained managers
to recognise and overcome the unconscious biases; and encouraged social
networks within the organisations to support people as they take on more
responsibility.

Sian Fisher, chief executive of the CII, said the
association can’t be complacent and will always have to be vigilant against
bias and continue to monitor and evolve initiatives to support its colleagues.

“I also know what the insurance profession can achieve
when it has a clear target and a reliable method for measuring process. I look
forward to seeing many firms in our profession making progress in narrowing the
gender pay gap,” she added.

To assist the profession to tackle the gender pay gap,
the CII’s My Personal Finance Skills programme provides an opportunity to raise
the profile of the profession and to encourage both girls and boys to consider
the varied roles in the industry.

The CII has also led the Insuring Women’s Futures initiative,
which has worked to raise awareness of the gender stereotyping of roles from a
very early age and how this affects later pay disparities.

This month, Insuring Women’s Futures will unveil plans to
tackle finances being affected by gender.